Cwm LLC increased its holdings in DT Midstream, Inc. (NYSE:DTM – Get Rating) by 37.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,229 shares of the company’s stock after buying an additional 610 shares during the period. Cwm LLC’s holdings in DT Midstream were worth $116,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in DTM. Russell Investments Group Ltd. purchased a new stake in shares of DT Midstream in the 2nd quarter worth about $50,940,000. Natixis purchased a new stake in shares of DT Midstream in the 2nd quarter worth about $29,548,000. First Trust Advisors LP boosted its position in shares of DT Midstream by 129.8% in the 1st quarter. First Trust Advisors LP now owns 971,324 shares of the company’s stock worth $52,704,000 after buying an additional 548,645 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of DT Midstream by 153.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 780,478 shares of the company’s stock worth $38,259,000 after buying an additional 472,774 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of DT Midstream by 43.6% in the 1st quarter. Capital Research Global Investors now owns 1,540,502 shares of the company’s stock worth $83,588,000 after buying an additional 467,413 shares in the last quarter. 78.28% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
DTM has been the topic of several recent research reports. Citigroup started coverage on shares of DT Midstream in a research report on Thursday, December 8th. They issued a “sell” rating and a $54.00 price objective on the stock. Wells Fargo & Company lowered shares of DT Midstream from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $68.00 to $62.00 in a report on Friday, December 16th. Barclays upped their target price on shares of DT Midstream from $63.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, October 31st. Mizuho lowered shares of DT Midstream from a “buy” rating to a “neutral” rating and reduced their target price for the company from $67.00 to $62.00 in a report on Monday, October 31st. Finally, Morgan Stanley upped their target price on shares of DT Midstream from $60.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, October 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.71.
DT Midstream Trading Down 0.7 %
DT Midstream (NYSE:DTM – Get Rating) last announced its quarterly earnings data on Friday, October 28th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.04. The business had revenue of $235.00 million for the quarter, compared to analyst estimates of $230.73 million. DT Midstream had a net margin of 41.33% and a return on equity of 8.24%. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.88 EPS for the current year.
DT Midstream Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Investors of record on Monday, December 19th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Friday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 67.02%.
About DT Midstream
DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.
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